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Here's Why Cerence Stock Crashed on Thursday

TheMotleyFool

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Here's Why Cerence Stock Crashed on Thursday

Shares of automotive-technology company Cerence (NASDAQ: CRNC) crashed on Thursday after the company announced a convertible debt offering of $150 million. The stock was down by a single-digit percentage for most of the day before falling further in late trading. It finished 16% lower.

Even after today's pullback, Cerence stock has beaten the market since it was spun off from Nuance Communications in October 2019.